South Africa based Malawian businessman, Simbi Phiri, has unveiled plans to invest more than $15 million in building a cigarette manufacturing plant in Malawi, according to a story in The Nyasa Times.
The plant is scheduled to become operational by 2018.
Construction of the factory is reportedly among key investment drives Simbi’s South Africa based consortium, Khato Civils, intends to establish as part of its strategy of broadening its footprint into Malawi.
Simbi was quoted as saying that a study was underway to establish the viability of building a cigarette factory in Mchinji, and that the results of the study were expected in the next six months.
Currently, Malawi has one cigarette company, the Nyasa Manufacturing Company, which operates in line with the government’s vision of adding value to Malawi’s leaf tobacco.
But the sole cigarette manufacturer is said to be producing ‘minimal’ quantities.
Category: Breaking News